EQS-Adhoc

Swiss Life REF (CH) Swiss Properties: Information about the planned capital increase

EQS Group-Ad-hoc: Swiss Life Asset Management AG / Key word(s): Capital Increase Swiss Life REF (CH) Swiss Properties: Information about the planned capital increase 27-Oct-2021 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Zurich, 27 October 2021 Ad hoc announcement pursuant to Art. 53 LR

Swiss Life REF (CH) Swiss Properties: Information about the planned capital increase

A CHF 300 million capital increase is planned for Swiss Life REF (CH) Swiss Properties in December 2021. The aim of the capital increase is to acquire a high-quality real estate portfolio worth around CHF 340 million.

The issue will take place on a commission ("best-effort") basis as part of a public subscription offer in Switzerland. Five (5) subscription rights entitle the holder to purchase one (1) new unit. Official trading in the subscription rights will take place from 29 November to 8 December 2021 at SIX Swiss Exchange Ltd. In total, a maximum of 2 700 000 new units will be issued. Any non-subscribed units will not be issued, thus reducing the amount of the issue.

The issue price, to be announced in the second half of November, will be based on the net asset value as at 30 September 2021 less the distribution for the 2020/21 financial year. It includes an amount for the purchase of current income and an issuing commission of 2%. The subscription period is planned for 29 November to 10 December 2021, with 16 December 2021 as the payment under subscription date.

The real estate fund Swiss Life REF (CH) Swiss Properties was launched on 2 November 2015 and listed on the SIX Swiss Exchange in June 2019. The earnings and value trend of the properties as well as the expansion of the portfolio have enabled the fund to develop successfully (annual performance since launch: 9.77%). Its investment focus is on residential real estate in Swiss cities and their surrounding areas. The fund also invests in commercial properties at central locations. The portfolio had 138 properties with a market value of around CHF 1 967 million as at the end of March 2021.